Bitcoin is about to be crippled via Segregated Witness. The legality and pledge surrounding the patents Blockstream have written up are full of ambiguities. Jihan Wu and all Chinese miners have, for a very long time, been trying to expand block size. After years of waging war on Bitcoin Core devs, do you really think they're about to bend a knee? Why would they do so, when they can instead fool everyone into installing Blockstreams' SegWit bloatware, and after it's part of Bitcoin PERMANENTLY, move hash power over to the Bitcoin Cash fork, effectively draining BTC of all value? It's obvious that miners have felt there is no other resort but to fool Core and big actors in Bitcoin, push for SegWit to cripple the network, and then migrate to a chain that does what they want while keeping the integrity of BTC's idea intact.
Do not miss your chance. You don't have to bet your entire stack. I don't like the price, and I was hoping that I'd see it drop dramatically before buying, but I just purchased 1 Bitcoin Cash with the gains I've realized from SegWit hype.
Pay close attention to CoinDance's Bitcoin Cash block chart and you may be able to enter at a better price, or at least see whether or no it will be worth it to put any money toward it at all.
FlexTrans seems to be a much better solution to the scaling and malleability problems than SegWit could ever be, so why is it then that SegWit is talked about everywhere, but no one mentions FlexTrans? Hm.
This is the biggest Bitcoin grab in history, I will be following the original chain and just wanted to inform Veeky Forums as to why, since you're all retards and the main reason I started playing with RobinCuck instead of continuing with crypto back in 2016 (fuck you for that, faggots).
Pay close attention to CoinDance - how many mining pools are working on Bitcoin Cash and so on. From what I gather, I would say that the "Unknown" mining pool is actually multiple mining pools pooling resources to defend against monetary loss as a conglomerate effort.
Try to remember that Bitcoin is now $3000+ - it is time that we move toward larger mining, and that means that if you are to mine Bitcoin in the future, you will probably need to start a business - how is there possibly anything wrong with starting a business that sees returns? There isn't. Don't be fooled by aggressive marketing. Be smart boys. Competitive markets win, those that stifle competition fail miserably. Good luck to all in your choices.
16h7DCAo1BKvcyLF5AGvwKXeuTYD96Ch2k
(BTC address, have been lazy and will set up a Bitcoin Cash node now.)
(2/2)
Carson Gonzalez
lol you are fucking retarded jihan and the chinks are gonna mine segwitcoin and in return, in november we will give them 2MB blocks
thats exactly how this is going down, pajeet
Justin Young
Shoo shoo
Isaac Torres
If there are any /pol/acks here, I'm sure you can spot counter-shilling shilling very easily at this point. These people use a dynamic shilling model in which they adopt our defenses against bullshit and use them against us, to spew more bullshit. Do not let these people fool you. It's the same as the SWT shills. They will call you pajeet, chink, street-shitter, it doesn't matter so long as it invalidates the point being made.
Segwit will permanently be part of BTC after this lock-in period. Miners will begin to abandon Segwit as the situation comes to light further. Off-chain transactions are exactly what the problem is with the federal reserve as well as anything that is overtraded on paper, such as silver. The people who own blockstream are heavily invested in the USD, so to suppress Bitcoin is to help them win further. The point of Segwit is to suppress Bitcoin and the block size.
Remember, Satoshi mentions hard forking as a means to upgrade directly. Do not let these people fuck with your thoughts.
Ayden Brown
Lol you are literally the shill here. Good effort though on the multiple threads.
Nick Szabo must be compromised I guess? But loud-mouth (((evangelist))) Roger Ver is the real-deal?
Yeah, get fucked faggot.
Kevin Barnes
>"5 rupees have been deposited into your account. Your accurately typed pasta are an asset for our company Pajeet, we'll even let you have one-day of vacation this year"
Brody Kelly
Imagine writing this LARPing shit and thinking you're smart for it
Hudson Gonzalez
>Miners will begin to abandon Segwit
I'm not ashamed to say I'm very glib about miners and behind-the-scenes of BTC. So I will ask a question and hopefully someone will give me a half-decent non-trollish answer. Please be aware I have no stake in any of these coins other than my own gain, sorry for not being a superfan of tech disruptive breakout crypto cypher decentralized smart dapp app faggot ass tech talk hype degen..I just want what's best to my interest and I don't want to be some larping tech-junkie crypto fedoraman.
With that being said...in ELI5 (sorry for that analogy) terms, or maybe ELI15? - why would minders abandon Bitcoin post Segwit?
Isaac Murphy
Just more shilling.
Let's repeat the point.
Once Segregated Witness is activated on Bitcoin's Blockchain, it becomes irreversible. It will forever become part of Bitcoin's blockchain, and will segregate transaction data off-chain, effectively allowing for Bitcoin to become the next gold/silver. It will be overtraded and suppressed, then ran into the ground. That is the only way AXA/Bildeberg win. When you are heavily invested in the fiat model, you cannot afford to become the loser. You need to destroy your competition.
SEGREGATED WITNESS IS A MENACE TO WHAT BITCOIN IS SUPPOSED TO BE.
Be careful investing. I absolutely believe more in Bitcoin Cash than BTC. That being said, no one knows where the market will go, which is why, once again, I have only purchased 1 Bitcoin Cash. In the event that my prediction is true, I will have purchased 1 Bitcoin for $250.
With SegWit no one wins aside from those who have been winning for the last 70 years.
By the way, do you truly think someone can be paid off when they own 160k Bitcoins? Honest question.
Owen Taylor
>why would minders abandon Bitcoin post Segwit? They won't. Miners don't decide consensus, they follow it. It's users that decide consensus. Jihan and Roger want to change Bitcoin and make it their own. They are pissed off because they cannot control Bitcoin's "economic code" how they call it. Think about it. It's literally "economic policy" re-branded for crypto. What Jihan and Roger want to do is become government and central bank of crypto, use their influence and money to decide what to do with it. Developers? Cryptography? Fuck that, I am rich and important and I decide. That's all this is, literally. The rest is just propaganda for retarded goons like OP who never read a book and learned how to think logically in their whole life
Evan Murphy
they are going to implement segwit as the agreement required, after which the agreement is null and void and they're free to fuck off and mine whatever the fuck they want.
Luke Roberts
Because they will have successfully crippled it. The only reason Bitcoin has the value it does is due to the hashing power and difficulty. When that hashing power leaves the network, the price drops. Exactly what happened to Bitcoin Cash during its conception. Difficulty is artificial and based purely upon hashpower. More difficulty = more expenses in electricity = more expensive Bitcoin.
John Brown
>2 rupees have been deposited into your account
Gabriel Sanders
Miners would only -want- to abandon bitcoin post segwit because it removes ASICboost, which gives the chinks using ASICs like bitmain an advantage.
in all reality though they will never abandon bitcoin because its been the #1 cryptocurrency forever and will continue to be the #1 cryptocurrency forever, so they would be absolute fucking imbeciles to try and profit elsewhere.
op is either literally retarded, larping for fun, or over invested into bitcoin cash and blind to basic miner economy. not a chance in fucking hell the chinks leave the king for some shit tier fork coin
Austin Price
even if miners wanted they couldn't anyway. Almost the entirety of the community is backing up the main chain, and you can mine the biggest block in the world but if nobody is transacting using your shitcoin you are not going to make any money. That is why miners FOLLOW consensus and not MAKE consensus. OP is one of those retards (but more likely paid shill) who got brainwashed by Jihan trying to convince them he alone decides consensus, which is complete madness.
Dominic Jackson
>Miners don't decide consensus
Miners have no say whatsoever? Who votes?
>More difficulty = more expenses in electricity = more expensive Bitcoin.
Pardon the dumb question, won't segwit make it even more difficult to mine?
>segwit because it removes ASICboost
What?? When's the segwit date, tomorrow, in 2 days? You telling me once it segwits all Bitmain products and "facilities" are 100% obsolete??
Aiden Scott
>mah asicboost
Do you realise competition drives innovation? Build something better and quit bitching about this supposed temporary advantage you fucking retarded shill.
Owen Perry
>Miners have no say whatsoever? Who votes? they have a say of course, but it's users that decide as a whole, of which miners are only a small part
Jonathan Lopez
>“Why would miners adopt the SegWit format, given that it does not provide any savings of bandwidth, storage, or processing time to them?”
>Most previous soft forks have not provided these benefits to miners either. For example, >BIP16 (P2SH) New transaction type >BIP30 (duplicate txids) Required checking for duplicate txids >BIP34 (height in coinbase) Reduced miner coinbase space by 4 bytes >BIP65 (OP_CLTV) New opcode
>The BIP66 (strict DER) soft fork which activated in July 2015 will soon be providing reduced processing time by making it possible to switch to libsecp256k1 for validation as described elsewhere in this FAQ. The reduced validation time makes it uncommon among soft forks in that it provides direct benefits to miners.
>What segregated witness (segwit) does is provide several major benefits to anyone who uses it to create transactions:
>A permanent fix for third-party malleability, allowing multi-stage smart contracts to flourish. A modest reduction in fees. Easy future upgrades to Bitcoin Script, so wallets can more easily gain access to new features.
>Through the previous soft forks, and through conversations such as the Miners’ Panel at Scaling Bitcoin Hong Kong, miners have repeatedly shown that they want Bitcoin to be the most useful system possible even if they don’t receive any direct benefits. Segwit and the other improvements in the roadmap provide significant usability enhancements.
>In addition, segwit allows miners to put more transactions in their blocks, which may allow them to increase their per-block revenue.
asicboost isn't competition, it does not allow Jihan to do proof of work more competitively, but to skip part of that work. Furthermore, it is done in secret, as a backdoor, and he even patented it to stop others from using it (which goes against bitcoin in general, which is based on open sourceness). >Build something better and quit bitching about this supposed temporary advantage you fucking retarded shill. It's incredible to me how a poorfag pajeet will unironically defend a gazillionaires hissy fit in trying to kill his own competition. It's fucking baffling. Why don't you go back to sucking Rothshild's cock if you like oligarchs this much?
Luis Foster
And why would SegWit trump FlexTrans, exactly?
Christopher Cook
no it doesn't make bitmain obsolete, it just removes a sort of overpowered advantage they had for a while. their shit is still the best shit to buy for bitcoin mining, its just a bit less good.
Luke Lee
FlexTrans is a shitty copy-paste of Segwit without a number of its features, which is funny considering that part of the conspiracy is that "SEGWIT IS PATENTED HURR DURR". Well, if it really was you wouldn't be able to use FlexTrans in your shitcoin lmao
Charles Johnson
OP seems so correct that i just buigt 4 bch. Thanks OP
Carter Jones
100 Satoshis has been deposited into your account, Theymos and ABX thank you
Joshua Hernandez
Lol. Because it wouldn't make more sense to have larger mining companies working toward confirming transactions in a competitive global atmosphere - ok LOL. That's how you get governments involved in mining, that's how you gain mass adoption. Not by stifling innovation and completely shitting up Bitcoin with an (((upgrade))) that allows for off-chain transactions.
>FlexTrans doesn't give blockstream the ability to completely suppress the price of Bitcoin for-fucking-ever and requires a hard-fork in order to be implemented. So it's dogshit. Also, do you have any fucking proof to back up your claim that FlexTrans is a "copy-paste" of SegWit? Legitimately curious. Usually when I'm trying to educate someone I try to include important details.
When you fix the flex pipe on your car, do you remove the flex pipe, or just continuously paste those glue shit-wraps around it and pretend everything is ok?
Julian Myers
>hurr durr blockstream pajeet pls
>Lol. Because it wouldn't make more sense to have larger mining companies working toward confirming transactions in a competitive global atmosphere - ok LOL Asicboost isn't competition, and blocksize has nothing to do with mining companies being larger. >That's how you get governments involved in mining, that's how you gain mass adoption. Not by stifling innovation and completely shitting up Bitcoin with an (((upgrade))) that allows for off-chain transactions. Dat cognitive dissonance of wanting innovation and then calling real innovation (((upgrade))) is incredible. You pajeets really love earning them rupees, don't you?
>When you fix the flex pipe on your car, do you remove the flex pipe, or just continuously paste those glue shit-wraps around it and pretend everything is ok? Wow, is this the power of r/btc intellectuals? I am completely BTFO user, how will I ever recover?
Landon Roberts
Honest question please no shillerino (not accusing you of shilling just in general)
Is SegWit really pozzing Bitcoin? Honestly? Will Bitcoin+SegWit make BTC jew-friendly crypto and if the answer is yes - how?
I've seen this argument here before, putting SegWit in BTC will make iz pozzed and jewed and the bankers will win. But I lack the knowledge of SegWit to know the reason why.
And I also refuse to believe that crypto will be compromised by fuckin kikes.
Adrian Ortiz
t.shill
This is an old tactic. Someone comes and start saying "oh please shill-sama, tell me why Segwit is bad", and then the shill starts vomiting his bullshit itt.
Segwit will lead to Lightning Network. The LN is NOT Bitcoin. You are not transacting on the BTC Blockchain, you are not using BTC in anyway, BTC will become a settlement layer.
If you think that is the future than go with it. But personally I didn't get into Bitcoin to not use Bitcoin.
If having Visa speeds is so goddamn important than why not just tie actual Visa cards with an existing backbone to the Bitcoin network? Why build out a whole new LN network unless you intend to turn it into a profit making mechanism like credit cards?
Segwit is all about creating a platform for one company to make money, nothing more. That is the definition of centralization.
>The most simple example of an off-chain transaction is perhaps two friends who agree on a debt between them. The "transaction" happens by the act of agreeing that the debt exists, and the validity of it is based solely on the trust that one friend has in the other. Further transactions can be agreed upon, possibly in exchange for something of value such one friend buying the other a meal. Multiple mutually trusting parties can participate, creating a network of value owed from one to the other. As an example the Ripple monetary system takes this concept, and adds to it an automated ledger to record all the mutual debts between participating parties. However actually acting upon those debts is still a matter of trust between the parties; the system only records debts and can-not by itself cause Bitcoins or some other object of value to change hands. In theory, the use of multi-signature techniques offers the promise of secure Off-Chain transactions [2]. However, the practical applications of such "CryptoCubic" approaches have yet to be confirmed.
>Auditing
In addition to hacks, currently no trusted third party payment systems in Bitcoin provide any way for users to determine if the services actually hold the Bitcoins they claim to hold. Conventionally banks and payment processors are audited regularly by third-parties - because Bitcoin is based on cryptography auditing can be done in a cryptographically provable way.
Oliver Barnes
>t.shill
You're a fuckin idiot.
Daniel Barnes
you are literally fucking retarded
do you even fucking realize how lightning network and blockchain in general works? like even literally fucking remotely understand anything at all related to them?
there is literally no fucking way, let me repeat that for your braindead ass, no fucking way that "one company profits off of lightning network" you are fucking beyond a brainlet and i cant even believe i laid my eyes on such a cesspool of an idea.
holy fuck lightning network allows for BTC transactions to be handled by off network blockchains like litecoin or digibyte for example, and then back to btc. there is no "not being btc" it just fucking transfers the workload off chain and you still fucking use bitcoin literally dont fucking spew shit that you know absolutely nothing about
Easton Wood
>t.shill
I've read the 2 answers provided here, now tell me you autistic idiot, if the answers provided are even half-way true and half-way unbiased - HOW IS OFF-CHAIN TRANSACTION POSITIVE THING??
t. your mother's favorite plumber
Austin Gomez
He'll probably conveniently disappear after the answer I posted is read. Either that or you'll see a shitload of spam threads. Trust in /pol/ my friend. They may be a bit too authoritarian but when it comes to research there is no one better.
We are experiencing the biggest bitcoin grab in history. Be prepared.
Lucas Nelson
Blockstream was paid $55m to build the LN, if that is not profiting off it I don't know what is.
Dominic Nguyen
>digibyte
I hope you're not being serious and I hope that you're not trying to accuse me of being shill while using this utter SHITCOIN used by neets here on bizrael to boost their .2 BTC portfolios and make memes when it drops 20% - as a new backbone for BTC?
Are you fuckin insane?
DIGIBYTES?!
P.S. if some idiot comes here to post WE memes I'll find you and I'll kill you.
Juan Howard
Is the shilling done???
Come back shills! I need to make you look more retarded!
Gonna go take a shower, if you give a shit about Bitcoin and the honest Veeky Forums browsers who are being fooled into buying shitcoins, please keep this thread alive!
Christopher Carter
youre genuinely a fucking dunce if you don't know why i used DGB as an example
LN requires segwit, only DGB and LTC have segwit. The only 2 potential backbones for LN right now are DGB and LTC, and DGB has the fastest block time of all cryptocurrencies.
DGB is a fantastic backbone for LN on bitcoin due to its
James Phillips
When literally you literally over use the literal word literally it literally makes you literally sound literally like literally the literal tard. Literally
Isaiah Ward
>no response to what i said
good job bud guy i responded too is still -literally- fucking retarded
Carter Lee
>HOW IS OFF-CHAIN TRANSACTION POSITIVE THING?? it allows scalability and worldwide use while keeping decentralization. On-chain scaling doesn't
Jack Taylor
...
James Watson
>only DGB and LTC have segwit
Don't forget AppleBytes
Evan Ward
in the LN you don't need third-parties to make a transaction
Ethan Turner
> while keeping decentralization
LMFAO? Can you go reread what I wrote here? How the fuck is this decentralized you fucking retard?
Lincoln Gomez
>makes a shilling thread >calls others shills
you're really bad at your job, fuck off pajeet
>How the fuck is this decentralized you fucking retard? Lightning transactions are still validated on-chain, that is why it's called "second layer", it is a layer on top of the first one, but it doesn't substitute it. The security is the same, all that is avoided is centralization
Evan Jones
you don't need on-chain transactions for buying coffee. It's so funny that people who defend zero-conf transactions for businesses make a fuss about LN transactions for micro-payments. You won't have to move millions at a time on the LN, only small amounts in your everyday life
Gavin Thompson
So when Satoshi created BTC he planned to have some blitz fast alt trashcoin to be used as a """layer"""?
Henry Cruz
LN isn't a new coin
Charles Jenkins
>blitz fast alt trashcoin >muh satoshi vision oh look, just like I said, you revealed yourself to be an r/btc shill. You pajeets are so bad at this, I wouldn't pay you if I were Roger
Ian Anderson
You're obsessed. Can't you just refute my silly quesion, rather than spewing chan memes "muh vision" and all?
I don't ever go on that cancerous pit of hell called reddit, I'm not a faggot. I'm asking questions and you're panicking. Fuck you.
Also I find it very interesting to see "muh vision" become a meme, are you low key saying fuck his vision we got a better idea now? Oh ok.
Tyler Morgan
...
Isaac Reed
you idiots wouldn't even be able to tell when segwit is added to bitcoin if nobody told you.
Ayden Evans
>You're obsessed. Can't you just refute my silly quesion, rather than spewing chan memes "muh vision" and all? Your retarded one about "da joos"? I have already explained you what's going on, and it's here: Segwit is a needed protocol upgrade that improves scalability, fixes bugs and makes LN easier to achieve.
>I don't ever go on that cancerous pit of hell called reddit, I'm not a faggot. I'm asking questions and you're panicking. Fuck you. Nice try pajeet, you identified yourself when you mentioned "muh vision" and you called the LN "bliz alt trashcoin", whatever the fuck that is supposed to mean
> are you low key saying fuck his vision we got a better idea now? Oh ok. And here you are again. Fucking brainlet pajeet can't even be consisent with his bullshit in his own post. Hal Finney in 2010 was already talking about the fact there would be a need for a second layer, everybody who was involved at the beginning (except Gavin who got co-opted by the fucking CIA) knew it wouldn't be enough to accomodate global demand. Every cryptographer worth his name agrees on this, look up Nick Szabo for instance, who is in favour of Segwit + LN.
Justin Rogers
>what is coindance
ok????????????? LOL?
I prefer to know when I'm about to be bound and fucked in my asshole by the same rapist I had kept off my property for the last 8 years :-)
Ayden Lee
>hurr durr hurr durr let's speak about serious issues user. How much is Roger paying you? I'd like to know how cheap your soul is
Colton Peterson
>last 8 years nigger you bought your first btc last month at the very least lmao
Jonathan Gomez
>da joos
Opinion dismissed, faggot. Yes, it is the jews, you indoctrinated weak faggot.
Gavin Brown
>yes, it is the jews
Liam Perry
Fuckin pathetic goy. The cat is out of the bag, neck yourself.
Juan Cooper
>lol newfag to crypto no clue what you're doing, goy, make sure to bend the fuck over, my son's bat mitvah wont pay itself you know!
Fuck you, kike. Stop coping so fucking hard. Just because you can co-opt Bitcoin for now doesn't mean it will work forever. The price will rise and crash dramatically. Go fuck yourself and all of the people working with you to take down.
I've been involved in Bitcoin since 2011 when I was like fucking 15. You were the coping nocoiner who not only didn't get involved but is now actively attempting to destroy it so you don't get fucked. Enjoy losing all your debt-slaves in the years to come, faggot.
Daniel Cooper
go get some fresh air NEET-kun
Jace Peterson
>Segwit is a needed protocol upgrade that improves scalability
But is it the only solution? And is it the best solution for us the users and owners of Coin?
And don't forget the miners, they do all the work and made all the investments. We should not ignore them or cut them out of the system only so Blockstream and its owners can make more money. They shoud have bought bitcoin or miners with those milions, not use it atack the original bitcoin network.
You talk like segwit is some sort of miracle solution that is going to solve all problems.
Ethan Butler
>The price will rise and crash dramatically. >I've been involved in Bitcoin since 2011 when I was like fucking 15 >Enjoy losing all your debt-slaves in the years to come, faggot.
11/10 pasta, gorilla warfare-tier. Saved and will read again to laugh are your sorry ass over and over again
Jace Diaz
>all these retarded r/btc talking points you shills are seriously so fucking pathetic.
Yes, it is the best solution, for literally everyone. Segwit took many years to test and develop, and is but one of the many improvements in the pipeline that the Bitcoin developers have been working on so carefully and for so long, while you ignorant niggers come and shit on their efforts for literally 2 rupees per post while knowing shit about what you are talking about. >muh Blockstream retarded conspiracy theory. Roger is making more money with his shit websites alone >muh miners investments ok so miners can be private investors in bitcoin but nobody else can? You can only invest in bitcoin if you are a puppet of the chinese communist government? the problem here is that Jihan is a miner and should keep being a miner, there is no fucking government in bitcoin, the developers certainly aren't one.
Segwit doesn't solve all problems, it solves some problems and is a good introduction into solving others, whereas without Segwit all you niggers are able to do is make blocks bigger. Go back to your containment shithole
Juan Kelly
the more you call (OP) a pajeet, the more everyone is going to invest in bitcoincash. thanks op, we gonna make it
Noah Roberts
Keep deluding yourself pajeet.
Aiden Long
>roger is unironically paying people to shitpost on Veeky Forums I really hope the fucker goes bankrupt
Julian Hill
Remember friends! When any point you make, makes you a shill, something fishy is going on :).
Let's try once more!
>The most simple example of an off-chain transaction is perhaps two friends who agree on a debt between them. The "transaction" happens by the act of agreeing that the debt exists, and the validity of it is based solely on the trust that one friend has in the other. Further transactions can be agreed upon, possibly in exchange for something of value such one friend buying the other a meal. Multiple mutually trusting parties can participate, creating a network of value owed from one to the other. As an example the Ripple monetary system takes this concept, and adds to it an automated ledger to record all the mutual debts between participating parties. However actually acting upon those debts is still a matter of trust between the parties; the system only records debts and can-not by itself cause Bitcoins or some other object of value to change hands. In theory, the use of multi-signature techniques offers the promise of secure Off-Chain transactions [2]. However, the practical applications of such "CryptoCubic" approaches have yet to be confirmed.
Mason Edwards
>shill copy-pasting something vaguely related but not refuting at all while being incapable to make an argument how surprising.
Aaron Bell
first post in 10 years of lurking and i instantly get double attack. BTC holders must not be sleeping well. General WU is going to cuck you fucks.
